MN HF3829

City of Aitkin may impose a one percent local sales and use tax if approved by voters at a general election, in addition to any other local sales taxes.

Tax revenues must fund collection and administration costs, plus three specific projects: $8,300,000 for a new municipal building, $700,000 for a biosolids drying and storage area roof, and $1,000,000 for parks and trails improvements.

City may issue bonds under Minnesota law to finance all or part of the three projects, with principal amounts not exceeding the specified amounts plus issuance costs, and bonds are exempt from debt limitations and levy restrictions.

Tax expires at the earlier of 20 years after imposition or when the city council determines sufficient revenue has been collected to pay project costs and bond-related expenses, with remaining funds placed in the city's general fund.

Bill becomes effective the day after the Aitkin city governing body and chief clerical officer comply with Minnesota Statutes section 645.021, subdivisions 2 and 3.